BGB Sees Adoption Boost as Kraken Lists Token

Top crypto exchange, Kraken, has confirmed that it will list the BGB token on its spot trading platform. Trading will commence on January 30, 15:00 UTC, enabling regulated market access and liquidity for BGB users globally.

Kraken Listing Expands BGB Token Access

In a post on X, Kraken said that qualified users will be able to access the token on its spot market upon listing. The exchange noted that jurisdiction limits will apply. BGB is the native utility token for the Morph Network and Bitget ecosystems.

Gracy Chen, the CEO of the top crypto exchange Bitget, commented on the listing in a post on X. She indicated that the BGB token will also be expanded to other crypto exchanges after this Kraken listing. The BGB token is already listed on exchanges such as MEXC, Bitfinex, and LBank. BGB can also be found on decentralized liquidity pools on Uniswap. Users can swap this token for another using supported on-chain pairs.

Colin Goltra, the CEO of Morph, stated that BGB’s growth depends not only on the platforms on which it is listed but also on where it is used. He added that on-chain finance needs infrastructure, accessibility, and liquidity. Hence, BGB’s suitability for governance and settlement makes it a reliable choice for this purpose.

BGB Price Shows Short-Term Pull Back

TradingView data shows that the BGB token is down on the day, trading at around $3.45. The token fell to an intraday low of $3.4 earlier today but has since recovered. This decline comes amid a massive crash in crypto prices, with Bitcoin dropping to a new yearly low of $81,000.

Further data from TradingView shows that the token is down over 6% in the last week and down year-to-date (YTD). This decline comes despite bullish fundamentals in the Bitget ecosystem, particularly the growth on its TradFi platform.

CoinGape recently reported that BitGet’s TradFi daily trading volume had reached $4 billion, as crypto traders continue to diversify beyond digital assets. This feat comes amid rising demand for commodities such as gold and silver, which recently reached new highs.